DNSFilter Raises $30M in Funding to Fight Growing Number of DNS-based Security Threats
WASHINGTON, July 21, 2021 /PRNewswire/ -- DNSFilter announced today that it has closed a $30M Series A investment round led by global venture capital and private equity firm, Insight Partners.
DNSFilter was founded on the premise that the DNS security market offers an unparalleled opportunity to protect organizations and their users by identifying and stopping threats before they have a chance to put businesses at risk.
Rather than relying solely on static lists, DNSFilter uses proprietary AI technology to continuously scan billions of domains daily, identifying anomalies and potential vectors for malware, ransomware, phishing, deception, and fraud. Over 14,000 brands rely on DNSFilter for security including Lenovo, Newegg, The Salvation Army, Nvidia, and more.
- DNSFilter catches threats an average of 5 days before competitors
- DNSFilter uniquely identifies 76% of domain-based threats
- DNSFilter boasts an industry-low rate of false positives
- By the end of 2021, DNSFilter will block more than 1.1 million threats daily
DNSFilter will use the latest round of investment to increase research & development to safeguard against new domain-based threats and to fund rapid product development with the intent to add more than 80 new employees globally over the next 12 months.
"The traditional model of top-down, hardware-centric network security is disappearing in favor of solutions that readily plug in at the device level and can cater to highly distributed workforces," said Thomas Krane, Principal at Insight Partners, who has been appointed as a director on DNSFilter's board. "DNSFilter's rapid growth and efficient customer acquisition are a testament to the benefits and ease of use compared to incumbents."
"We feel unbelievably fortunate to welcome Thomas Krane to our Board of Directors," said Ken Carnesi, CEO and founder of DNSFilter. "Our vision is simple: to change the way the industry thinks about security via DNS. The world has changed rapidly, and traditional networks and firewalls no longer provide the edge-protection that distributed workforces need to thrive. An even stronger balance sheet, through this raise, coupled with our high operating leverage, sets the stage for an exciting future and the ability to serve more businesses with our offering."
Just prior to Insight Partners investing in DNSFilter—Dmitri Alperovitch, CrowdStrike Co-Founder and former CTO—joined DNSFilter's Board of Directors.
DNSFilter's early investor, Inner Loop, was instrumental in Alperovitch joining the board, while Minneapolis-based Arthur Ventures—the lead investor in DNSFilter's 2019 Seed Round—also participated in this round of funding. "We are excited to expand our partnership with DNSFilter as they continue to build a leadership position within DNS Security. We are thrilled to have Insight Partners alongside for the next leg of the journey." said Ryan Kruizenga, Partner at Arthur Ventures .
DNSFilter also maintains deep ties with Techstars and was a member of Techstars' inaugural Techstars Anywhere class, the first Techstars virtual program. "DNSFilter continues to prove that the Techstars Anywhere Accelerator and the Techstars network produce outstanding results. We're thrilled to see a Techstars Anywhere graduate poised for growth of this magnitude and are glad to have been along for the ride since the beginning," said Ryan Kuder, DNSFilter Board Member.
Founded in 2015, DNSFilter provides security via DNS that protects over 15,000 organizations and 4M end users from online security threats and undesirable content using artificial intelligence—all while running on the fastest and most reliable network within the DNS security industry. DNSFilter catches threats up to 154 hours faster than competitors, and uniquely identifies more than 47% of domain based threats including zero day threats.
For more information, visit https://www.dnsfilter.com/.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.